‘Director of Vardhman Estates held for 30-cr property scam’

NEW DELHI: The Economic Offences Wing of Delhi Police has arrested Director of M/s Vardhman Estates & Developers Pvt Ltd and M/s Zestha Projects Pvt Ltd, for allegedly duping the public of approximately Rs 30 crore through fraudulent real estate schemes.

The accused has been identified as Harinder Bashista (49) a resident of Delhi. According to the police, An FIR was registered on June 3, 2022, following a complaint by Sunil Gupta. The complaint alleged that in 2009, M/s Vardhman Estates launched the “Vardhaman I-V@lley” project in Greater Noida, proposing to develop an IT park and sell office spaces, residential units, and commercial properties.

Despite receiving significant payments from buyers, the project remains incomplete. Investigations revealed Harinder Bashista lured investors with fake documents, sold the same units to multiple buyers, and lacked authorisation for property titles.